I'm on a Rizen 3 with AMD Vega8 and 14 GB ram, dx 12 and latest drivers. Have also tried the CPU option you mention. I've done plenty of similar edits before but never come across this. I was on the latest version of videopad but tried rolling back to no effect too. The odd things is, after 3 or 4 attempts the preview (right below) starts to show the distortion too. I've tried re-loading the source foortage (which is all from a single file with single aspect ratio and resolution) but when I do the original footage seems fine in the preview again, but still get the corruption (as left) on a number of transitions (but weirdly, not all of them) when I export (tried MP4, Mpeg, avi etc all with same result). Any thoughts very welcome.
edit - I tried to paste screenshots in to this but they vanish on posting